Personal Spending Declines for First Time in Nearly Two Years

Consumer personal spending decreased for the first time in nearly two years in June, the Commerce Department said Tuesday.

Personal spending slipped 0.2%, following a 0.1% gain in May.

The June decline compared with economists’ forecasts of a 0.1% increase, Bloomberg reported. Personal incomes rose 0.1%, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.